Montenegro sets final price guidance on €500 million seven-year notes at 3¾% area yield

By Rebecca Melvin

New York, April 12 – Montenegro, acting through its Ministry of Finance, has set final price guidance on a planned €500 million of seven-yield notes to yield in the area of 3¾%, plus or minus 1/8%, according to a market source on Thursday.

The pricing was tightened from initial price talk in the high 3% area.

Deutsche Bank, Erste Group and Societe Generale CIB are the bookrunners for the Rule 144A and Regulation S notes, which are being sold concurrently with the sovereign’s tender of €362,151,000 of its existing 2019, 2020 and 2021 notes.

The order book for the new notes was above €1 billion.

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